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DeanSTrader: Options Watchlist for 2/11/13 | Stock Haven | Stock Chat Room | Penny Stocks | Options |Stock Haven | Stock Chat Room | Penny Stocks | Options |

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DeanSTrader: Options Watchlist for 2/11/13

CMG – could have momo this week. Last week, the first 15 minutes candle close whether up or down determined the daily close each day. In other words, if the first 15 minute candle ended green, the stock was green that day, vice versa. Something to watch for next week. 


Supports:

  1. 320
  2. 319 – 319.25 
  3. 318.80 
  4. 317 
  5. 316.50 
  6. key support 315 


Resistances:

  1. 320.84 – 321 
  2. 321.50 
  3. 322 
  4. 322.50 – 323 
  5. 324 – 324.50 
  6. 324.72 
  7. 325 (psychological) 


If breaks below 4th support of 317 then long side will not be in play until it goes above 320.

If it stays above 318 – 320 and starts to break above 1st – 4th resistance points. It will likely break above 325 and then go to 330’s or even 340’s. Who knows? If momo really starts to erupt then even 350’s is possible throughout the week. But being conservative my targets would first be 330 – 335 on week. Good call bet if plays out accordingly.

AAPL – is another one to watch, however, before I go over AAPL I just wanna point out a few key things about the manner in which the stock has been behaving lately. Whenever you think the bottom is in, it is not. Whenver you think it is going higher, it usually ends up going down. Whenever people think it is going down, it goes up. And so the way to trade it is not by what you think, but by the way it has traded in the past or at least most recent past and how it will most likely trade in the most recent future. Generally speaking, AAPL lately has liked to rally on news for a day or two and then change direction, so I can not say it will go higher based on the news. I have to be impressed by it for me to let down my guard on AAPL. Currently, my bias is not sure but not committed to any one direction. Here’s what I am watching for to determine the direction it will head in the coming week or two:

  • For more upside, I wanna see it break above 480 without going under 470. If this happens then my target would be 485 – 500.


  • For down move, I wanna see it struggle to get back above 475, and break below 470 without going above 478. If it does that then my first target would be 466, as it is the high on 2/6/13 (previous resistance equals future support). Under this scenario at 466 level, I would expect some support on AAPL from the bull side. But if the bulls do not take AAPL back over 470, then my next target on the downside would be 460 – 455.

 

Fairly simple, right? Yes, but there’s one more thing … In case it just goes sideways. If sideways action starts to take place but stays above 470 then I would not take the bull move off the table. Similarly, if the sideways action takes place below 470, then I would still be looking for the bear scenario. 

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